Workday’s First Earnings Report Beats the Street

Workday, the cloud-based human resources software company, just reported its quarterly earnings for the first time since its Oct. 12 IPO. The results are pretty good.

Sales at $72.6 million grew 99 percent year on year, and while the net loss grew to $41.3 million versus $19.7 million a year ago, it was, at 39 cents per share, a lot better than the 67 cent loss that analysts had expected.

The company said that, during the quarter, it signed deals with chemical giant DuPont as well as industrial technology concern Johnson Controls.

Looking ahead, CEO Aneel Bhusri said in a statement that Workday expects sales in the current quarter to come in between $75 million and $79 million, amounting to growth of between 74 percent and 83 percent.

Workday shares finished the regular trading session up $1.34, or more than 2 percent, to close at $53.19. Once the results were reported, they rose again after hours by another 2 percent, to $54.40.

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